On behalf of the Parliamentary Joint Committee on Corporations and Financial Services, I present the committee’s report No. 1 of the 44th Parliament entitled Statutory oversight of the Australian Securities and Investments Commission, the Takeovers Panel and the corporations legislation.

It gives me great pleasure to rise today to speak on the Omnibus Repeal Day (Spring 2014) Bill 2014 and related bills. In particular I want to start by congratulating the Prime Minister and his parliamentary secretary, the member for Kooyong, Josh Frydenberg, for the outstanding work they have done in pushing forward our second red-tape repeal day.

The member for Griffith is right: before the last election the coalition did commit that we would not make any unexpected detrimental changes to superannuation, and that commitment was so important, because the context was that the Labor Party had so significantly eroded confidence in our national superannuation system that Australians were crying out for some form of positive statement from the Liberal Party to ensure that we would protect their future savings.